Compagnie de Saint-Gobain S.A. (French pronunciation: [sɛ̃ ɡɔbɛ̃]) is a French multinational corporation, founded in 1665 in Paris and headquartered on the outskirts of Paris, at La Défense and in Courbevoie. Originally a mirror manufacturer, it also produces a variety of construction, high-performance, and other materials. Saint-Gobain is present in 76 countries and as of 2022 employs more than 170,000 people.
History
[
edit
]
1665–1789: Manufacture royale
[
edit
]
Since the mid-17th century, luxury products such as silk textiles, lace, and mirrors were in high demand. In the 1660s, mirrors had become very popular among the upper classes of society: Italian cabinets, châteaux, ornate side tables, and pier-tables were decorated with these expensive and luxurious products. At the time however, the French were not known for mirror technology; instead, the Republic of Venice was known as the world leader in glass manufacturing, controlling a technical and commercial monopoly of the glass and mirror business.[2] As a result, French Minister of Finance Jean-Baptiste Colbert wanted France to become completely self-sufficient in meeting domestic demand for luxury products, thereby strengthening the national economy.[3]
Colbert established, by letters patent, the public enterprise Manufacture royale de glaces de miroirs (French pronunciation: [manyfaktyʁ ʁwajal də ɡlas də miʁwaʁ], Royal Mirror-Glass Factory) in October 1665.[4] The company was created for a period of twenty years and would be financed in part by the State. The beneficiary and first director was the French financier Nicolas du Noyer, a receiver of taxes of Orléans,[5] who was granted a monopoly of making glass and mirror-glass for twenty years. The company had the informal name Compagnie du Noyer.
An Early Saint-Gobain EmblemTo compete with the Italian mirror industry, Colbert commissioned several Venetian glassworkers he had enticed to Paris to work for the company. The first unblemished mirrors were produced in 1666.[6] Soon the mirrors created in the Faubourg Saint-Antoine, under the French company, began to rival those of Venice. The French company was capable of producing mirrors that were 40 to 45 inches long (1.0 to 1.1 m), which at the time, was considered impressive. Competition between France and the Venetians became so fierce that Venice considered it a crime for any glass artisan to leave and practice their trade elsewhere, especially in foreign territory. Nicolas du Noyer complained in writing that the Venetians were unwilling to impart the secrets of glassmaking to the French workers and that the company was hard-pressed to pay its expenses. Life in Paris proved distracting to the workers, and supplies of firewood to stoke the furnaces were dearer in the capital than elsewhere. In 1667, the glass-making was transferred to a small glass furnace already working at Tourlaville, near Cherbourg in Normandy, and the premises in Faubourg Saint-Antoine were devoted to glass-grinding and polishing the crude product.
Though the Compagnie du Noyer was reduced at times to importing Venetian glass and finishing it in France, by September 1672 the royal French manufacturer was on a sufficiently sound footing for the importation of glass to be forbidden to any of Louis' subjects, under any conditions.[7] In 1678, the company produced the glass for the Hall of Mirrors at the Palace of Versailles.
In 1683, the company's financial arrangement with the State was renewed for another two decades. However, in 1688 the rival Compagnie Thévart was created, also financed in part by the state. Compagnie Thévart used a new pouring process that allowed it to make plate glass mirrors measuring at least 60 by 40 inches wide (1.5 by 1.0 m), much bigger than the 40 inches (1.0 m) that the Compagnie du Noyer could create.
The two companies competed for seven years, until 1695 when the economy slowed down and their technical and commercial rivalry became counterproductive. Under an order from the French government, the two companies were forced to merge, creating the Compagnie Plastier. A mirror factory in the village of Saint-Gobain in Picardie gave its name to the present company.[8]
In 1702, Compagnie Plastier declared bankruptcy. A group of Franco-Swiss Protestant bankers rescued the collapsing company, changing the name to Compagnie Dagincourt. At the same time, the company was provided royal patents which allowed it to maintain a legal monopoly in the glass-manufacturing industry up until the French Revolution (1789), despite fierce, sometimes violent, protests from free enterprise partisans.
1789–1910: Industrial Revolution
[
edit
]
In 1789, as a consequence of the French Revolution, the state financial and competitive privileges accorded to Compagnie Dagincourt were abolished. The company now had to depend on the participation and capital of private investors, although it continued to remain partly under the control of the French state.[9]
In the 1820s, Saint-Gobain continued to function as it had under the Ancien Régime, manufacturing high-quality mirrors and glass for the luxury market. However, in 1824, a new glass manufacturer was established in Commentry, France, and 1837, several Belgian glass manufacturers were also founded. While Saint-Gobain continued to dominate the luxury high-quality mirror and glass markets, its newly created competitors focused their attention on making medium and low-quality products. The manufacture of products of such quality made mirrors and glass affordable for the masses. In response, the company extended its product line to include lower-quality glass and mirrors.
In 1830, just as Louis-Philippe became King of the newly restored French Monarchy, Saint-Gobain was transformed into a Public Limited Company and became independent from the state for the first time.
While mirrors remained their primary business, Saint-Gobain began to diversify their product line to include glass panes for skylights, roofs, and room dividers, thick mirrors, semi-thick glass for windows, laminated mirrors and glass, and finally embossed mirrors and windowpanes. Some of the more famous buildings that Saint-Gobain contributed to during that period were the Crystal Palace in London, Jardin des Plantes, the Grand Palais and adjacent Petit Palais in Paris, and the Milan Central railway station.
Saint-Gobain merged with another French glass and mirror manufacturer, Saint-Quirin, in the mid-19th century. After the merger, the company was able to gain control of 25% of European glass and mirror production (before, it had only controlled 10–15%). In response to growing international competition, the company began to open up new manufacturing facilities in countries without any domestic manufacturers.[10]
Saint-Gobain cast the glass blanks of some of the largest optical reflecting telescopes of the early 20th century, including the ground-breaking 60-inch (1.5 m) Hale telescope (online in 1908), the 61-inch (1.54 m) Bosque Alegre telescope built in 1912, for the Argentine National Observatory, directed by Charles D. Perrine,[11][12] and 100 inch (2.5 m) Hooker telescope (online 1917) at Mount Wilson Observatory (United States), and the 72-inch (1.8 m) Plaskett telescope (online in 1918) at Dominion Astrophysical Observatory (Canada).
1910–1950: Post Industrial Revolution
[
edit
]
Saint-Gobain experienced significant success in the early 20th century. In 1918, the company expanded its manufacturing to bottles, jars, tableware, and domestic glassware.[13]
In 1920, Saint-Gobain extended its businesses to fibreglass manufacturing. Fibreglass was being used to create insulation, industrial textiles, and building reinforcements. In 1937, the company founded Isover, a subsidiary fibreglass insulation manufacturer.
During this period, the company developed three new glassmaking techniques and processes; first, a dipping technique used to coat car windows, which prevented the glass from shattering in the event of an accident. As a result of that technique, 10% of Saint-Gobain's 1920 sales came from the car industry, and 28% in 1930. Second, a few years later, another technique was developed that allowed glass to be shaped and bent.[clarification needed] Finally, a process was developed to coat glass with aluminium, allowing it to be used as a conductor, and allowed the company to create products such as the ‘radiavers’ (French for “radiating glass”), a unique type of electric heater with the heating element encased in glass.[14]
1950–1970: Pont-à-Mousson merger
[
edit
]
Between 1950 and 1969, Saint-Gobain's sales rose at a rate of 10% per year. Its workforce grew from 35,000 in 1950 to 100,000 in 1969. By the end of the 1960s, Saint-Gobain had more than 150 subsidiaries under its control.
Glass and fibreglass sales benefited from the booming construction industry and the rise in mass consumption after the Second World War. Saint-Gobain's yearly glass production went from 3.5 million square metres (38 million square feet) in 1950 to 45 million square metres (480 million square feet) in 1969. In 1950, fibreglass only represented 4% of the company's turnover, but by 1969, this had grown to 20%.
Domestic sales in France accounted for only a fifth of the company's revenue. Spain, Germany, Italy, Switzerland, and Belgium were also important markets.
In 1968, Boussois-Souchon-Neuvesel, a French industrial group, made a hostile takeover bid for Saint-Gobain. The company looked for a "white knight" to help fend off the bid. Multinational corporation Suez suggested that Saint-Gobain and Pont-à-Mousson (another French industrial group) should merge, to maintain independence from Boussois-Souchon-Neuvesel. After the merger, Saint-Gobain-Pont-à-Mousson, later known simply by the name "Saint-Gobain", produced pipes in addition to glass and fibreglass.
1971–1986: Nationalisation
[
edit
]
The next fifteen years were a time of change and reorganization for the newly merged companies. In the 1970s, Western economies were suffering a sharp downturn. Saint-Gobain's financial performance was adversely affected by the economic and petrol crisis.
In 1981 and 1982, ten of France's top-performing companies were nationalized by the socialist Fifth Republic of France. By February 1982, Saint-Gobain was officially controlled by the state. However, the company did not last long as a government-owned corporation; it was re-privatized in 1987.
1986–present: Expansion
[
edit
]
When Saint-Gobain once again became a private enterprise, control of the company quickly changed hands. Jean-Louis Beffa, an engineer and graduate of the École Polytechnique, became the CEO. Beffa invested heavily in research and development and pushed strongly for the company to produce engineered materials, such as abrasives and ceramics.[17]
Under Beffa, the company continued to expand internationally, setting up foreign factories, and acquiring many of its foreign competitors. In 1996 the company bought Poliet (the French building and construction distribution group) and its subsidiaries, such as Point P. and Lapeyre. This expanded Saint-Gobain's product line into construction materials and their distribution. In 2005, Olivier Bluche took the helm of Supply Chain Operations, quickly modernising the company's lengthy and dated processes. In October 2022, Saint-Gobain Films & Fabrics was renamed Saint-Gobain Composite Solutions.[18] In 2023, the company's India-arm acquired Twiga Fiberglass, a manufacturer of glass wool with production facilities located near Delhi and Mumbai.[19]
Company structure
[
edit
]
Head office
[
edit
]
The company has its head office in Les Miroirs in La Défense and in Courbevoie.[20][21] The 97-metre (318 ft) building served as the company head office since 1981.[21]
Saint-Gobain sherry bottle factory at Jerez, Andalusia (Spain)Committees
[
edit
]
Executive committee
[
edit
]
As of August 2019, the executive committee of Saint-Gobain is composed of:[22]
Business Sectors
[
edit
]
Saint-Gobain is organized into three major Sectors (% by 2014 Net Sales restated excluding Verallia): Building Distribution (49%), Construction Products (27.5%), Innovative Materials (23.5%).[23]
Building distribution
[
edit
]
Saint-Gobain's Building Distribution (building supplies) division was created in 1996. Since then it has grown both internally and through acquisitions (in France with Point P. and Lapeyre, the UK with Jewson and Graham, in Germany, the Netherlands and Eastern Europe with Raab Karcher and in the Nordic Countries with Dahl). The division has 3,500 stores in 23 countries and employs 52,000 people worldwide. Its 2006 sales amounted to 17.6 billion euros. The divisions current subsidiaries are:
On 1 March 2023, the UK business was divested and sold to Stark Group[24]
Construction products
[
edit
]
The Construction Products division is organized into the following business areas:
- Gypsum, which manufactures drywall
- Insulation, which manufactures acoustic and thermal fibreglass and PIR insulation
- Exterior Products, which manufactures roofing, interior and exterior products
- Pipes, which manufactures cast-iron pipes for water transfer applications
- Mortars, which manufactures expanded clay lightweight aggregates.
The Construction Products division employs 45,000 people worldwide and in 2006 had sales revenues of 10.9 billion euros.
Companies:
Innovative materials
[
edit
]
Skywalk built with SG glass, looking over the Grand CanyonThe Innovative Materials division conducts research into various areas of materials science, energy, the environment, and medicine, such as fuel cells or particle filters. It operates centres in Cavaillon, Northborough, Massachusetts and Shanghai, employing 35,800 people. Overall, the division's sales are made up of at least 30% new products. In 2006, total sales revenue was 4.9 billion euros. Innovative Materials also manufactures glass products, including self-cleaning, electrochromic, low-emissivity and sun-shielding glass. It is active in 39 countries, targeting emerging economies, a market that now accounts for more than one-third of the division's sales. It employs a global workforce of 37,100 and in 2006 had sales revenues of 5.1 billion euros. This division is divided in two parts:
- Flat Glass subsidiaries : Saint-Gobain Glass, Glassolutions and Saint-Gobain Sekurit
- High Performance Materials : Saint-Gobain SEFPRO Saint-Gobain Abrasives, Saint-Gobain Crystals, Saint-Gobain Norton, Saint-Gobain Quartz and Saint-Gobain Norpro
In 2006, Saint Gobain announced a JV, Avancis, with Shell to produce PV modules based on CIS film technology.[26] After the company had entirely owned Avancis[27] and its two plants in Germany manufacturing thin CIS film modules for some time,[28] it was sold to China National Building Materials Group Corporation (CNBM) in 2014.[29]
External venturing
[
edit
]
Saint-Gobain also has a division that focuses on connecting entrepreneurs, startups, and innovators to the 50+ bin Saint-Gobain called: NOVA External Venturing. The External Venturing unit has staff in Boston, Paris, and Shanghai interested in connecting with entrepreneurs working in advanced materials, construction products, and environmental sustainability.[30]
Acquisitions and sales
[
edit
]
Saint-Gobain has made a number of recent acquisitions in the past several years. In December 2005, it purchased the British company BPB plc, the world's largest manufacturer of plasterboard, for US$6.7 billion.[31] In August 2007, the company acquired Maxit Group, doubling the size of its Industrial Mortars business and adding the manufacture of expanded clay aggregates to its business portfolio. In 2012, the company acquired SAGE Electrochromics, an innovative manufacturer of glass that tints on command.[32] In 2018 Saint Gobain acquired UK-based Farécla Products, one of the largest polishing compound manufacturers in the world. In 2024, Saint-Gobain agreed to acquire Australian building materials maker CSR Limited for A$4.5 billion (US$2.95 billion).[33]
The company has also sold off various assets. Recently the company sold its cosmetic glass manufacturing business, including a plant in Newton County, Georgia, United States.[citation needed]
Saint-Gobain Gyproc Middle-East
[
edit
]
Saint-Gobain Gyproc Middle East began trading as Gyproc in 2005. In April 2010, the company's first plasterboard manufacturing plant opened on a seven-hectare site in Abu Dhabi.
Gyproc products have been used on some of the largest projects in the region, including the stations and main depot for Dubai Metro; Atlantis Hotel – Palm Jumeirah, Capital Gate – Abu Dhabi, Ferrari Experience – Abu Dhabi and Masdar Institute – Abu Dhabi.
Saint-Gobain in India
[
edit
]
Saint-Gobain India Private Limited – Glass Business (formerly Saint-Gobain Glass India Limited) is a subsidiary of Saint Gobain that manufactures and markets solar control glass, fire-resistant glass and other various types of float glasses in India. It has its manufacturing plant at Sriperumbudur, 40 kilometres (25 mi) from Chennai.
Saint-Gobain started its venture in India in 1996 by acquiring a majority stake of Grindwell Norton. Later in 2000, it started its own glass manufacturing unit at Sriperumbudur. In June 2011, Saint Gobain Glass India acquired Sezal Glass float-line business, based in the state of Gujarat, India. The acquisition adds about 550 tons per day additional capacity, and the deal was inked at around US$150 million. In addition, Saint-Gobain Glass invested in Bhiwadi, Rajasthan in 2014, which adds another 950 tons of glass per day. And recently in 2018, Saint-Gobain again invested in Sriperumbudur with 950-ton capacity, which results in the production of 3850 tons of glass per day from India.[34][35]
Brands
[
edit
]
Saint-Gobain comprises several brands, including Saint-Gobain Glass, Saint-Gobain Performance Plastics, RIW, GCP Applied Technologies, Weber, British Gypsum, Decoustics, Glassolutions, Gyproc, Artex, Isover, CTD, Ecophon, Pasquill and PAM.[36]
Environmental impact
[
edit
]
Saint-Gobain had contaminated ground water supply with PFAS (perfluorooctanoic acid – a highly persistent contaminant) in multiple towns in Southern New Hampshire, USA. Elevated levels of perfluorooctanoic acid were found in 2016, near the Saint-Gobain plant in Merrimack.[37] Pollution has been occurring for over 20 years.[38] Saint-Gobain deliberately and intentionally constructed a bypass stack to thwart environmental inspections and avoid PFAS removal. Despite this flagrant violation of their permit they were allowed to continue to operate. Former state representative and environmental scientist Mindi Messmer has linked exposure to Saint-Gobain’s PFAS emissions with kidney and renal pelvis cancer, testicular cancer, female breast cancer, prostate cancer, ulcerative colitis, thyroid disease, high cholesterol, cardiovascular impacts.[39] As of 2022, Saint Gobain is involved in multimillion-dollar class-action lawsuits. Its former company lawyer was terminated after he repeatedly urged "the company to do more to address contamination from their plants in Merrimack; Bennington, Vermont; and Hoosick Falls, N.Y".[38]
See also
[
edit
]
References
[
edit
]
Sources
[
edit
]
Further reading
[
edit
]
List of fines, monetary settlements and costs such as supplementary environmental projects or consumer relief that Saint-Gobain has been compelled to undertake as part of settlements.
In this article, we will be taking a look at the 12 biggest glass companies in the world. To skip our detailed analysis of these companies and the glass industry, you can go directly to see the 5 Biggest Glass Companies In The World.
The glass industry is among the most overlooked industries in the market, as many customers who habitually and repeatedly purchase glass products do not realize the extent of their reliance on them. Despite this, the glass industry has steadily been on the rise across the globe over the last two decades in terms of the usage of high-performance glasses. As a result, key players in the glass industry such as Saint Gobain Company (EPA:SGO), PPG Industries, Inc. (NYSE:PPG), and Corning Incorporated (NYSE:GLW), among others, have been profiting. Geographically, the Asia-Pacific continues to be the largest market for glass and glass products. In 2021, this region alone accounted for 20.3% of the global market revenue share in the glass sector.
According to a report published by the National Glass Association this January, while US economic recovery continues, glass manufacturers have begun pushing for improved efficiency and better performance to meet rising demand. The report mentions that there is a fair likelihood of demand for glass products remaining high throughout 2022. Stephen Weidner, the head of Architectural Glass North America, was cited as commenting that the glass market is continuing to grow at a rate of 3% per year. The glass market has also started making headway into solar products with the rise of "green" glass products used in the production of solar panels for the increased use of green energy and electricity.
Apart from just being used in conventional sectors such as electronics, green energy, and more, glass products also have much to contribute to the automotive sector. Companies such as Tesla, Inc. (NASDAQ:TSLA), General Motors Company (NYSE:GM), and Ferrari N.V. (NYSE:RACE) in this sector all rely on glass companies for the provision of automotive glass and coatings used in the manufacture of vehicles. Glass demand in this sector is also expected to stabilize throughout 2022, ensuring a vital customer base remains from which the glass industry can continue to benefit for years to come.
Photo by Quino Al on Unsplash
Our Methodology:
For our list below, we have selected glass manufacturers that are among the largest in the world, based on their market cap. The companies are ranked on the basis of the lowest to the highest market cap.
Number of Hedge Fund Holders: N/A
Market Cap as of November 3: N/A
Guardian Industries Company, based in Michigan, US, is among the largest glass companies in the world today. It manufactures float glass, glassware, fiberglass insulation, and other forms of building materials for commercial and residential construction. The company's products and services are also used in the automotive industry.
The company is a fortune 500 worldwide leader in the glass industry. The company's annual revenue as of 2022 was $4.3 billion, and it employs around 18,000 employees. At this moment, Guardian Industries Company supplies glass products to about 160 countries on five continents.
Number of Hedge Fund Holders: N/A
Market Cap as of November 3: N/A
Beijing Glass Group, based in Beijing, was founded in 1940. The company is a manufacturer of industrial and technical glass, alongside eyeglasses, quarts, and silicon materials.
Beijing Glass Group is also known for its production of photovoltaic cell modules used in the production of solar panels. The company also produces high-grade fused refractories, eyewear, and eye-care products.
Number of Hedge Fund Holders: N/A
Market Cap as of November 3: $50,040,000
Pilkington Glass Company (FRA:FDD) has been a subsidiary of Nippon Sheet Glass since 2006, and is based in Lancashire, United Kingdom. The company has become the world's leading producer and distributor of tempered automotive, aerospace, and building glass. Since the company's sales have been significantly high since its inception, it is considered on its own as one of the biggest glass companies in the world.
The company had a peak revenue of $593.4 million in 2021, and its revenue on average is $593.4 million annually. Pilkington Glass Company (FRA:FDD) focuses on the production of solar control, insulation, fire protection, noise control, self-cleaning, decoration, and other glass systems.
Stocks like Tesla, Inc. (NASDAQ:TSLA), General Motors Company (NYSE:GM), and Ferrari N.V. (NYSE:RACE) in the automotive industry benefit from the existence of companies such as Pilkington Glass Company (FRA:FDD) that provide specialized products for the production of automobiles.
Number of Hedge Fund Holders: N/A
Market Cap as of November 3: $1,250,000,000
China Glass Holdings Company (HKG:3300) is a manufacturer of flat and coated glass. The company was established in 2004. It was listed on the main board of the Hong Kong Stock Exchange in 2005.
The company's main products include float glass, reflective glass, energy-saving glass, photovoltaic products, deep processing glass, and more. China Glass Holdings Company (HKG:3300) exports its specialized products to over 100 countries and regions, for use in landmark buildings on a national and international level.
China Glass Holdings Company (HKG:3300) is also a dividend-payer, holding a yield of 7.35% as of November 3. It has a forward P/E ratio of 3.78.
Number of Hedge Fund Holders: N/A
Market Cap as of November 3: $8,820,000,000
Vitro Glass (BMV:VITROA) was founded in 1909 in Monterrey Mexico and is currently one of the largest glass companies in the world. The company owns subsidiaries in the Americas, Europe, and Asia, that also manufacture, process, distribute, and market glass products. It operates through these subsidiaries, numbering over 30 companies, based in Mexico, the US, Brazil, Colombia, Bolivia, Costa Rica, Guatemala, and Panama.
Vitro Glass (BMV:VITROA) is a specialized company in five areas: glass containers, construction glass, automotive glass, and mechanical equipment and chemicals. While it began its journey as a glass container factory, the company has since made strategic acquisitions in Bolivia and the US to expand its business areas.
The company has annual revenues of $1.77 billion. It employs about 15,000 people across the globe at present.
Number of Hedge Fund Holders: N/A
Market Cap as of November 3: $20,730,000,000
Saint Gobain Company (EPA:SGO) is the oldest company on this list, originally founded in 1665 and currently based in Paris, France. Saint Gobain is now a Fortune Global 500 company and primarily focuses on glass manufacturing, ceramic plastic, gypsum building materials, and other high-tech materials. It offers products to the automotive, home and office, and health and industrial sectors.
The company was originally a mirror manufacturer but is now one of the top 10 glass companies in the world. It has successfully been raking in over $40 billion a year, making it a leader in the glass manufacturing sector.
Saint Gobain Company (EPA:SGO) has a P/E ratio of 7.15, and employed over 167,000 people in 2021. It had a net profit margin of 6.77% in June 2922, demonstrating a growth of 15.33% year-over-year compared to the same period in 2021.
Number of Hedge Fund Holders: 22
Market Cap as of November 3: $25,870,000,000
PPG Industries, Inc. (NYSE:PPG) is a provider of automotive coatings and flat glass, based in the US. The company also manufactures and distributes paints and specialty materials across the globe.
A Buy rating was reiterated on PPG Industries, Inc. (NYSE:PPG) shares on October 21 by analyst David Begleiter at Deutsche Bank. The analyst also placed a $128 price target on the stock.
PPG Industries, Inc. (NYSE:PPG) has become the world's largest producer of coatings after its purchase of select Akzo Nobel assets. The company's significant global footprint in over 75 countries and expanded consumer base helped it generate $16.8 billion in total sales in 2021. In the second quarter of 2022, PPG Industries, Inc. (NYSE:PPG) had record sales of $4.7 billion, demonstrating a growth of 8% year-over-year from the prior year.
Bailard Inc was the largest stakeholder in PPG Industries, Inc. (NYSE:PPG) in the second quarter, holding 9,271 shares worth $1.02 million. In total, 22 hedge funds were long the stock, with a total stake value of $240.2 million.
ClearBridge Investments, an investment management firm, mentioned PPG Industries, Inc. (NYSE:PPG) in its first-quarter 2022 investor letter. Here's what the firm said:
“”While commodities-exposed areas of the materials sector such as mining and steel fared well in the quarter, we tend to have less direct exposure to commodities across our portfolio. Holdings like paint and coating company PPG Industries (NYSE:PPG) that use natural gas and oil related products as feedstock into their products faced sharp input cost escalation, driving meaningful margin compression, which was not well-received by investors. While negative in the short term, we remain confident that the company will be able to adjust pricing accordingly and recover margins over the medium term.”
Like Tesla, Inc. (NASDAQ:TSLA), General Motors Company (NYSE:GM), and Ferrari N.V. (NYSE:RACE), PPG Industries, Inc. (NYSE:PPG) is among the stocks many hedge funds are piling into today.
Click to continue reading and see the 5 Biggest Glass Companies In The World.
Suggested articles:
Disclosure: None. 12 Biggest Glass Companies In The World is originally published on Insider Monkey.